One of the best parts of working with founders of technology companies is they are poised for scale right from the start. The potential to scale is rooted in creating products and businesses that can grow and manage increased demand. If a local tech company achieves high growth through scaling, there are jobs created, a more diversified economy, and greater connectedness between our community and other cities around the world. In short, when companies scale to the world from Edmonton, it benefits all of us!
Thinking about how your company can scale when you're just getting started will help you make informed business decisions around how to make your operations and product more stable and competitive - from your systems and product roadmap to how your team is structured. Building with this mindset means you will be ready to handle a massive influx of demand from customers and pressure from competitors.
Companies grow to scale in different ways, companies can leverage technology to create partnerships with big industry players, or they can attract significant VC investment. Often CEOs and their teams of advisors are focused on building business growth through a mix of these strategies.
Another pathway to growth is an acquisition. An acquisition is when one company purchases the technology or entire business operations in cooperation with the selling company.
Read on to learn more about Showbie’s path to growth through acquisition!